Kurt V. Beasley on Arbitration: When Speed, Flexibility and Goodwill are Important - By Kurt V Beasley

Largely due to all the activity within the current court structure and the high profile lawsuits splashed across the news everyday, a lesser known option is often overlooked. “Arbitration remains a very viable option for most conflicts” says Kurt V. Beasley, a Brentwood Tennessee attorney. Arbitration is a private, informal process that allows the parties to a contract agree, in writing, to submit their disputes to one or more impartial persons who will adjudicate and resolve the controversy by rendering a final and binding award to the prevailing party. Arbitration has certain advantages over Court proceedings.

In many cases arbitration can be heard without the long delay. For a case to go to court the time period required is usually longer. Arbitration however allows for the possibility of selecting arbitrators that suit the timetable of the parties. The traditional court system can stretch conflict resolution out for months or even years. Kurt V. Beasley would much rather see a conflict more peacefully resolved.

There are other benefits as this option is considered uttered Kurt V Beasley. The adversarial nature of court hearings usually guarantees that parties to a dispute heard in court will never be able to work together again. Arbitration hearings are usually held in private and in a less adversarial setting where the parties feel that a business disagreement is being sorted out. A more reasoned approach allows both parties to feel as though they are not going to war. Many times arbitrators will try to persuade the parties to utilize an even more peaceable approach which is mediation. Most arbitration systems can assist in facilitating an attempt to expedite settlement without going to arbitration at all. The more business-friendly nature of arbitration is actively practiced by the Waterford Law Group where Kurt V. Beasley is a founding partner. As Mr. Kurt V Beasley explains it, mediation acts as a form of insurance against loss of good will and, if handled by experienced arbitrators and arbitration-counsel, enables parties to continue a business relationship after the proceeding is long over with.

Finally, unlike court rules which are usually set out in formal procedures which are never varied, parties to arbitration are free to customize and refine the basic arbitration procedures to meet their particular needs. If the parties agree on a procedure that conflicts with the rules of the Arbitration body selected, the arbitration body will respect the procedure opted-for by the parties suggested by attorneys like Kurt V. Beasley unless these would, in the experience of the arbitrators, be unworkable.

Arbitration is used for a wide variety of disputes – from commercial disagreements involving intellectual property, major commercial technology, activities, securities transactions, real-estate, construction, insurance claims and employment grievances. Arbitration provides a viable solution for almost all commercial business conflicts. While there are many benefits to arbitration, a common assumption that may be incorrect is that the costs of complicated arbitration may be less than the costs of a full court hearing. This is an aspect that is best discussed with professionals prior to beginning the process. Once a decision has been made the parties can quickly move into the process of resolution.

Kurt V Beasley is the Managing member of Waterford Law Group in Brentwood Tennessee. The firm provides a broad suite of legal and accounting services and prides itself on practicing the art of law.

Kurt Beasley on Estate Planning; a two minute drill – By Kurt Beasley

While volumes can be written about the needs of estate planning, sometimes it is easiest to have a short simple check list. To that end, here is a two minute check list that may help facilitate a more comprehensive discussion. Every estate needs the following:

A Will:

This legal document tells who will manage your estate. A will is a document containing your instructions and wishes as to how your property and assets are to be distributed after your death says Kurt Beasley. Any person, of any age, should seriously consider a will at the earliest possible time. It is the expression of your wishes concerning how your property will be distributed. It is a written statement, signed in compliance with you state guidelines. It is a legal document containing the names of the people you want to benefit, as well as details of your possessions at the date of your death. As the Managing Member of Waterford Law Group, Kurt Beasley knows that your property and possessions include everything you own; your home, land, vehicles, bank accounts, benefits of insurance policies, furniture, boat, investments such as shares of stock, personal jewellery, artwork, and so on. A will is the only way you can ensure your assets will be distributed according to your wishes.

A Letter of instruction:

This document addresses financial and personal issues that must be attended to after your death. It is generally less formal then your will and can be much more to the point. One of the most important features of a letter of instruction reflects Kurt Beasley, is it provides specific information regarding personal preferences in medical or funeral care and details concerning dispersion or care of your personal assets that your legal documents may not outline. Letters of instruction can be used for many different things, but one of their main uses is simply to lead the person who must settle your estate through the process step by step in plain language that he or she can easily understand said Kurt Beasley.

Advance directive:

While this document may be referred to by different names, its intent is straight forward. These documents refer to health care directives, living wills, health care (medical) powers of attorney, and other personalized directives. It is a legal document that you as the signor defines your desire to be kept alive by extraordinary medical efforts. Kurt Beasley has utilized this type of document for many of his clients. This is particularly important if you suffer from a terminal illness or are severely disabled and can no longer make decisions for yourself. This document eliminates the distress that your loved ones might other wise be faced with.

Power Of Attorney:

This is the document that gives another person legal authority to act on your behalf. When you create this document, you are acting as the principal and the person you giving the power to is called your attorney in fact. Kurt Beasley acts as an attorney in fact for many of his clients. If you create a durable power of attorney, that document will continue in effect even if you become incapacitated. While this document can serve as a directive for many things, it is a core need for every estate.

There are many details involved in each one of these documents. As you review your current situation these brief definitions may help. Being prepared for such a discussion is half of the process.

Kurt Beasley is the Managing member of Waterford Law Group in Brentwood Tennessee. The firm provides a broad suite of legal and accounting services and prides itself on practicing the art of law.